If Park Bank is liable for not spotting Sujata "Sue" Sachdeva's $34 million embezzlement from Koss Corp., then so is chief executive Michael Koss, the bank argues in a new lawsuit.

In a suit filed last week, the bank argues that if a jury finds Park Bank liable for the loss, then Michael Koss and Grant Thornton, the firm's former auditor, should have to pay some of the award.

"Park Bank denies any and all liability to Koss in this case," Park Bank wrote in its action. "Nevertheless, should Park Bank be found liable to Koss (Corp.) and required to pay damages to Koss in this case those damages will have been the result of a common liability of Park Bank, Michael Koss and Grant Thornton, thereby entitling Park Bank to (a) contribution from Michael Koss and Grant Thornton."(3)

Judge rules NCR, Appleton Papers responsible for Fox River cleanup

A federal judge has ruled that the NCR Corp. and Appleton Papers are largely reponsible for the mult- million-dollar cleanup of toxic material from the Fox River in northeastern Wisconsin.

Judge William C. Griesbach ruled that the companies were liable for the environmental damage in a section of the river where remediation is projected to cost $600 to $700 million.

The ruling is a major step in settling the issue of who pays for the cost of the nation’s largest cleanup of polychlorinated biphenyls, or PCBs.

NCR and Appleton “were responsible for creating the hazardous condition,” the judge wrote. “They knew there was a risk of environmental damage; and they profited from the very conditions (PCBs) that made their products hazardous.”

About Lee Bergquist

Lee Bergquist covers environmental issues and is author of "Second Wind: The Rise of the Ageless Athlete."